The Gross Law Firm Announces Class Actions on Behalf of Shareholders of CTMX, SRNE and WFC

NEW YORK, NY / ACCESSWIRE / June 29, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Investors Affected : May 17, 2018 – May 13, 2020

A class action has commenced on behalf of certain shareholders in CytomX Therapeutics, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) CytomX had downplayed issues with CX-072's efficacy observed in the PROCLAIM-CX-072 clinical program; (ii) CytomX had similarly downplayed issues with CX-2009's efficacy and safety observed in the PROCLAIM-CX-2009 clinical program; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/cytomx-therapeutics-inc-loss-submission-form/?id=7623&from=1

Sorrento Therapeutics, Inc. (NASDAQ:SRNE)

Investors Affected : May 15, 2020 – May 22, 2020

A class action has commenced on behalf of certain shareholders in Sorrento Therapeutics, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's initial finding of "100% inhibition" in an in vitro virus infection will not necessarily translate to to success or safety in vivo, or in person; (ii) the Company's finding was not a "cure" for COVID-19; and (ii) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Shareholders may find more information at https://securitiesclasslaw.com/securities/sorrento-therapeutics-inc-loss-submission-form/?id=7623&from=1

Wells Fargo & Company (NYSE:WFC)

Investors Affected : April 5, 2020 – May 5, 2020

A class action has commenced on behalf of certain shareholders in Wells Fargo & Company. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Wells Fargo planned to, and did, improperly allocate government-backed loans under the Paycheck Protection Program ("PPP"), and/or had inadequate controls in place to prevent such misallocation; (ii) the foregoing foreseeably increased the Company's litigation risk with respect to PPP allocation, as well as increased regulatory scrutiny and/or potential enforcement actions; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/wells-fargo-company-loss-submission-form/?id=7623&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm

ReleaseID: 595587